Naira Redesign Case: Court Orders Trial to Continue Despite Defence Objection
The trial of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, continued on Tuesday, February 10, 2026, as the Federal Capital Territory High Court, Maitama, Abuja, declined an application by the defence for an adjournment over the non-availability of the statement of the Managing Director of the Nigerian Security Printing and Minting Company.
Justice Maryanne Anineh refused the adjournment request and ordered the continuation of proceedings in the four-count charge filed by the Economic and Financial Crimes Commission (EFCC) against Emefiele over the alleged unlawful printing of new naira notes.
At the resumed hearing, prosecution counsel, Abbas Mohammed, informed the court that the matter was slated for the continuation of the cross-examination of Prosecution Witness Seven (PW7), who was present in court.
However, defence counsel, Olalekan Ojo, SAN, objected to proceeding with the cross-examination, stating that at the previous sitting he had requested the statement made by the Managing Director of the Nigerian Security Printing and Minting Company, which he intended to rely on during trial. He said the prosecution only made the six-page investigation report available about 20 minutes before proceedings commenced.
According to Ojo, the document ought to have been served on the defence at least 24 to 48 hours earlier to allow adequate preparation. He stressed that neither he nor the defendant had sufficient time to study the report and consequently applied for an adjournment.
Opposing the application, Mohammed told the court that the prosecution did not deliberately withhold the document. He explained that the defence had demanded the investigation report during the last adjourned date while cross-examining PW7, and that the document was meant to be produced by the witness in court.
Mohammed urged the court to direct the defence to proceed with the cross-examination, noting that other dates were available to address issues relating to the report.
In her ruling, Justice Anineh held that the cross-examination of PW7 should continue and dismissed the defence application for adjournment.
Following the ruling, Ojo resumed cross-examination of the witness, questioning him on an email exchange between the Managing Director of the Nigerian Security Printing and Minting Company and De La Rue. The witness told the court that the email was made available to the EFCC team by the Managing Director, whom he identified as Ahmed Halilu.
The witness admitted that he could not recall how many statements the Managing Director made or when the investigation was concluded. He also stated that while his team made inquiries from CBN officials on the quantity of new naira notes released to commercial banks, he did not have the figures readily available and could not confirm whether the information was documented.
PW7 further testified that the EFCC constituted multiple teams across the country, working alongside other law enforcement agencies, to ensure the new currency was made available over the counter. He acknowledged awareness of allegations that some banks hoarded the currency but said he could not be specific.
When defence counsel sought to ask whether any arrests were made over alleged infractions by banks, the prosecution objected, arguing that the witness was only testifying on matters relating to the approval of the naira redesign. Ojo countered that cross-examination was not limited to evidence-in-chief.
The witness subsequently stated that he was not aware of any sanctions imposed on erring banks and was not privy to the instructions under which the EFCC carried out the nationwide visits.
The defence again sought an adjournment on the ground that the prosecution allegedly did not have the original statement of the Managing Director of the Nigerian Security Printing and Minting Company. The prosecution responded that the Managing Director had already testified before the court as PW2 and that all relevant documents were already before the court.
Justice Anineh thereafter adjourned the matter to March 19; April 1 and 2; May 11 and 12; and June 9 and 10, 2026, for continuation of trial.
